Only 4% of Businesses are Big Enough to Feel Obamacare Impact

Only 4% of Small Businesses Big Enough to Feel Obamacare ImpactHow many small businesses are affected by the vast changes underway in the U.S. healthcare system, known as Obamacare?
The answer might surprise you: Only 4 percent of U.S. businesses are big enough to be affected by the Affordable Care Act.
BusinessNewsDaily.com found that the vast majority of the more than 5.7 million small businesses in the United States have fewer than 50 employees. That means they are not required under the new Obamacare mandates to offer health insurance to their employees.
In fact, only about 10,000 to 15,000 out of almost 6 million U.S. businesses will be forced to start offering health insurance to employees.
“Businesses with fewer than 50 full-time or equivalent employees are not subject to these rules — that’s 96 percent of all businesses,” Kathleen Sheehy, deputy press secretary for the U.S. Small Business Administration, told BusinessNewsDaily. “Additionally, of the remaining 4 percent of firms that do have 50 or more full-time or equivalent workers, the vast majority already offer sufficient coverage to their employees, and will not be affected.”
This past week, small businesses with fewer than 50 employees were able to start shopping for insurance in the new Small Business Health Options Program (SHOP) marketplace.
SHOP is a new program that simplifies the process of buying health insurance for small business owners. For 2014, the SHOP Marketplace is open to employers with 50 or fewer full-time-eqivalent employees (FTEs). With SHOP, business owners can control the coverage they offer and how much they pay toward employee premiums.
Small businesses through SHOP may qualify for a health care tax credit worth up to 50 percent of their employees’ premium costs.
Only 4% of Small Businesses Big Enough to Feel Obamacare Impact

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